What is OFX? OFX Review, Features

OFX is a multi-currency account that allows users to make and receive payments in the foreign currency in which they do business. Receive payments from Amazon or directly from customers. Pay international taxes or pay suppliers in your local currency.

About OFX

• OFX does everything it can to help businesses manage foreign currency risk and save on international remittances, providing personal service, currency market expertise, secure transactions, low margins, low fees, and 24/7 service.
• OFX offers flexible, tailor-made solutions by developing custom currency strategies, giving you the added flexibility to access the market when needed.
• OFX can transfer users’ money to more than 190 countries in 55 different currencies.

Serve

• Foreign exchange risk management strategies;
• Paying overseas suppliers;
• Paying overseas employees;
• Receive international payments;
• Automate batch payments.

FAQ

Q: How do I track my transfer?

A: OFX will send email notifications to users along the way as your transfer is received and paid. These updates can be sent via email or SMS. Simply log in and go to the 'My Profile' tab and under 'My Preferences' select how you would like OFX to contact you.

The status of the transfer can also be tracked by clicking on ‘Trades and Orders.’ ‘Funds Disbursed’ will notify when OFX has sent the funds to the recipient’s bank account.

Q: Can the receiving account details be used on multiple markets?

A: A user can use a receiving account for multiple markets authorized by OFX. Each market must deliver the currency that the user's receiving account was initially set to receive.